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Can your house payments increase during bankruptcy due to a negative escrow from increased taxes?
Yes, house payments can increase during bankruptcy if there is a negative escrow balance due to increased property taxes. When property taxes rise, the mortgage servicer may adjust the escrow account to cover the higher tax payments, leading to increased monthly payments. However, the specifics can vary based on the bankruptcy plan and the lender's policies, so it's important to consult with a bankruptcy attorney for personalized guidance.
What else can I help you with?
If you file for bankruptcy and you cosigned for someone can the car loan be included in the bankruptcy if the person is not making their payments?
YES, you can include it whether the payments are current or not.
Does dividend payments increase or decrease cash flow?
Dividend payments are negative Cash Flows for Financing Activities because they decrease the amount the company has on hand.
Are bankruptcy payments tax deductible?
Absolutely not. Bankruptcy payments are repayments for debts that you incurred in the past and did not pay. There is no circumstances where these could be deductible on your income taxes.
What is one potential effect of an increase in mortgage interest rates?
Increased mortgage rates for a homeowner mean their mortgage payments increase. Additionally, less money will go towards reducing the principle with an increased interest rate.
What bankruptcy can you file to keep your home if you are behind in payments?
If you are behind in your payments and you declare bankruptcy usually you can remain in your home and continue payments. However the lender will most likely begin foreclosure since you can't afford it and you are at higher risk.
Can you file bankruptcy in Ohio then move to Germany before the bankruptcy is complete?
Yes, you can move anywhere you want to, but if you are paying payments (Chapter 13) you are still legally obligated to make the payments.
How much debt can you have before filing for bankruptcy?
There's no maximum amount. If you can't make your payments you file bankruptcy.
What happens when someone you cosigned a mortgage for has filed for bankruptcy?
When you co-sign on a loan or mortgage for someone, you are promising to make the loan payments if they can't. When someone files for bankruptcy, they are claiming that they cannot make their payments. It would stand to reason that if someone you co-signed on a mortgage for files for bankruptcy that you would then be liable for making the payments.
Can one put car payments on their bankruptcy?
You not only can, you must. All creditors must be listed in any bankruptcy filing.
If you are current with your bankruptcy payments will the IRS keep your income tax check?
No
Can chapter 13 bankruptcy payments go up?
Yes, they may.
How will you know if someone that owes you money and is making scheduled payments files bankruptcy?
Go to where the bankruptcy is filed and have the file pulled and there will be an accounting of all the debts and payments being currently made. It is public information.
